On a consolidated basis, Wipro's net profit declined 5.29% to Rs 2,326.10 crore on 1.55% increase in revenue to Rs 15,711 crore in Q4 March 2020 over Q3 December 2019.
The company's IT services segment revenue was at $2,073.70 million in Q4, a decrease of 1% QoQ, the IT major said after market hours today, 15 April 2020.
The company estimated that the IT services revenues for Q4 March 2020 were negatively impacted by COVID-19 by approximately $14 -$16 million (0.7%-0.8% of revenues).
"Due to the uncertainty around the course of the COVID-19 pandemic, we do not have visibility into the extent to which it will disrupt our operations, and we have decided to not provide revenue guidance for the quarter ending 30 June 2020. We anticipate that we will resume providing revenue guidance when we have increased certainty of both demand and supply side factors," Wipro said.
Wipro's consolidated net profit rose 7.98% to Rs 9,722.30 crore on 4.16% increase in revenue to Rs 61023.20 crore in the year ended March 2020 (FY20) over the the year ended March 2019 (FY19). IT services segment revenue was at $8,256.2 million in FY20, growing at 1.7% YoY.
The board has not recommended any final dividend. The interim dividend of Rs 1 declared by the board at its meeting held on 14 January 2020 shall be considered as the final dividend for the financial year 2019-20. Thus, the total dividend for the financial year 2019-20 remains Rs 1 per equity share.
Commenting on company's performance, Abidali Z. Neemuchwala, CEO and Managing Director said, In these unprecedented times, I am extremely proud of how the Wipro team has come together and worked 24/7 to ensure the safety and well-being of each other while continuing to serve our clients. We hope that all of us stay safe and strong during these tough times. We are confident that our broad portfolio of services and our ability to execute to our commitments makes us well-positioned to gain market share.
Commenting on the revenue guidance, Wipro said, Due to the uncertainty around the course of the COVID-19 pandemic, we do not have visibility into the extent to which it will disrupt our operations, and we have decided to not provide revenue guidance for the quarter ending June 30, 2020. We anticipate that we will resume providing revenue guidance when we have increased certainty of both demand and supply side factors.
Wipro fell 1.53% to end at Rs 186.55. Meanwhile, the benchmark BSE Sensex declined 310.21 points or 1.01% to settle at 30,379.81.
Wipro is a global information technology, consulting and business process services company.
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